NEIGHBORHOOD RENEWAL HOUSING DEVELOPMENT FUND CORPORATION (EIN 833652635) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2019

Legal Domicile

Principal Officer

MR SALVATORE D'AVOLA

Phone

2125848981

Tax Period

2024-01-01 to 2024-12-31

NEIGHBORHOOD RENEWAL HOUSING DEVELOPMENT FUND CORPORATION, founded in 2019, is a community nonprofit in the Housing & Shelter sector that reported $1.2M in total revenue in fiscal year 2024. Revenue surged 108% from the prior year, signaling strong growth momentum. Expenses of $7.0M exceeded revenue, resulting in a 495% operating deficit.

Mission

THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PERSERVING AND CREATING, ON A NON-PROFIT BASIS, HOUSING PROJECTS FOR PERSONS OF LOW AND MODERATE INCOME. IN ADDITION TO PROMOTING AFFORDABLE HOUSING OPPORTUNITIES, IT SEEKS TO PREVENT AND ELIMINATE BLIGHT AND FOSTER THE STABLIZATION OF COMMUNITIES THROUGHOUT NEW YORK CITY.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,000,000

Investment Income $106,103

Other Revenue $74,480

TOTAL REVENUE $1,180,583

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $6,654,083

Other Expenses $7,027,466

TOTAL EXPENSES $7,027,466

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,180,583	$568,260	+1.1%
Expenses	$7,027,466	$4,322,178	+0.6%
Net Income	$-5,846,883	$-3,753,918	+0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$301,125

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HAROLD SHULTZ	PRESIDENT	1.00	Officer Director	$0	$0	$0
KIMBERLY DARGA	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL WADMAN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
TATIANA PENA	SECRETARY	1.00	Officer Director	$0	$0	$0
VICTORIA ROWE BARRECA	TREASURER	1.00	Officer Director	$0	$0	$0
RICHARD PINNER	ASSISTANT SECRETARY	1.00	Officer	$0	$0	$0
SALVATORE D'AVOLA	ASSISTANT SECRETARY	5.00	Officer	$0	$26,421	$301,125

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,180,583	$7,027,466	$231,478,177	$-5,846,883
2023	$568,260	$4,322,178	$225,550,097	$-3,753,918
2022	$4,130,076	$5,175,135	$236,260,795	$-1,045,059
2021	$3,393,057	$6,992,668	$300,253,945	$-3,599,611
2021	$3,393,057	$6,751,642	$300,253,945	$-3,358,585
2020	$1,122,916	$2,244,991	$212,795,652	$-1,122,075
2019	$3,436,950	$1,244,706	$129,340,798	$2,192,244

NEIGHBORHOOD RENEWAL HOUSING DEVELOPMENT FUND CORPORATION